GuSont Inc Assume That Cash Inflows Occur Evenly Throughout the Year

GuSont Inc. was considering an investment in the following project: $\begin{array}{lrr}\text { Required initial investment } & \$ 990,000 \\\text { Net annual after-tax cash inflow } & \$ 165,000 \\\text { Annual depreciation expense }(\$ 990,000-\$ 165,000) / 15 \text { years } & \$ 55,000 \\\text { Estimated salvage value } & \$ 165,000 \\\text { Life of the project in years } & 15\end{array}$ Assume that cash inflows occur evenly throughout the year. The estimated payback period in years (rounded to one decimal place) for the proposed project is:

A) 3.7 years.
B) 4.6 years.
C) 5.8 years.
D) 6.0 years.
E) 7.9 years.